Malaysian Fintech Startup Announces that It Has Achieved over RM 100 Million in Transactions

Ministry of Finance’s recent findings reveals that almost half of the Employees’ Provident Fund’s (EPF) members have less than RM10,000 left in savings, including 3.6 million members who have less than RM1,000. With Malaysians using most of their EPF savings as temporary financial relief over the course of the COVID-19 pandemic. The recent floods that ravaged many parts of the country, causing extensive damage and economic losses to many families. Hence, it is only apparent that the need to save for rainy days is crucial for personal financial freedom.

For some, the conventional fixed deposits’ (FD) high minimum deposits, long lock-ins, and lower interest rates are obstacles for putting their money in the FD.

To address these issues, Versa Asia Sdn Bhd has come up with a solution that can provide faster returns without committing to restrictive lock-in periods.

Versa is a Money Market Fund investment, a type of mutual fund intended to offer high liquidity with low level of risk. It is launched in partnership with Affin Hwang Asset Management. It has a relatively low entry fee and easy accessibility through a mobile app. Versa is able to boost their users’ savings by utilizing compound interest.

Versa is a recognised market operator (e-Service platform) under Section 34 of the Capital Markets & Services Act 2007 with approval and license from the Securities Commission Malaysia (SC).

Officially launched in early 2021, Malaysian fintech startup and digital cash management platform, Versa Asia Sdn Bhd, announces that it has achieved over RM 100 million in transactions.

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